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India may record current fiscal deficit at 4.7%-4.8% of GDP, Mint reports

India may record current fiscal deficit at 4.7%-4.8% of GDP, Mint reports

Jan 13 (Reuters) – India may record a fiscal deficit for the current fiscal year at 4.7%-4.8% of gross domestic product (GDP), lower than the government’s estimate of 4.9%, primarily driven by lower expenditure, finance daily Mint reported on Monday. Lower spending on planned capital investments and a higher-than-anticipated dividend from the central bank could lead to a smaller fiscal deficit, the report said, citing two people aware of the matter. The plan for fiscal year 2026 is to keep the budget deficit within the government’s target of 4.5%, the newspaper reported, citing one of the sources. India’s budget gap

RBI likely selling dollars to support rupee, traders say

RBI likely selling dollars to support rupee, traders say

MUMBAI, Jan 13 (Reuters) – The RBI (Indian central) was likely selling dollars to support the rupee on Monday, after the currency slumped to its all-time low as the dollar surged on expectations that the Federal Reserve will not cut rates by much this year, four traders told Reuters. The rupee was at 86.36 per U.S. dollar as of 10:15 a.m. IST after hitting its all-time low of 86.39 earlier in the day. State-run banks were spotted offering dollars, most likely on behalf of the Reserve Bank of India, traders said. The RBI seems to be “letting it (USD/INR) move

Tens of thousands take holy dip in India as Maha Kumbh festival begins

Tens of thousands take holy dip in India as Maha Kumbh festival begins

PRAYAGRAJ, India, Jan 13 (Reuters) – Tens of thousands of Hindus seeking absolution of their sins immersed themselves on Monday in freezing waters at the confluence of sacred rivers, as India began a six-week festival expected to draw the world’s largest gathering of humanity. Held every 12 years, the Maha Kumbh Mela or Great Pitcher Festival, as the religious event in the city of Prayagraj in the northern state of Uttar Pradesh is called, attracts more than 400 million visitors, both Indians and tourists. As many as 40,000 police officers are on guard to provide security and help manage the

Bangladesh eases visa rules for Pakistan to boost trade, economic relations

Bangladesh eases visa rules for Pakistan to boost trade, economic relations

Lahore, Jan 12 (PTI) The interim government in Bangladesh has simplified the visa process for Pakistanis to further strengthen trade and economic relations. The present government had removed the need for clearance from Dhaka for Pakistani heads of missions while issuing visas, Bangladesh High Commissioner to Pakistan Iqbal Hussain told the business co­­mmunity here at the Lahore Chamber of Commerce and Industry on Saturday. Dawn News reported that Hussain said increasing trade and investment between the two countries must be a top priority to move forward. Hussain said the interim government headed by Chief Adviser Mohammad Yunus is eager to

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